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AI and Low-code can transform the banking sector

October 14, 2022

AI and Low-code can transform the banking sector
The recent years have witnessed immense technology adoption in the banking sector in the wake of the pandemic and during the race to economic recovery. 

Digitisation of banking services allowed institutional resilience and enabled banks to offer services and solutions online, reaching a broader customer base. The demand for a digital banking experience is transforming the entire banking industry, giving rise to innovative solutions and enhanced customer experience. 

As banking embraces technology, hyper-automation technologies play a massive role in digitizing independent processes, improving the quality of services, and transforming operations. Beyond improving independent tasks, the connected technologies add efficiency to overall operations bringing together separate processes and departments to develop innovative solutions and industry-wide impact. 

Artificial Intelligence (AI) and Low-code play a crucial role in transforming banking by providing flexibility and reduced turnaround time to deliver faster solutions and efficient process implementation at a minimal investment compared to infrastructural investments to attain similar results. 

While AI enables the digital workforce to replicate human intelligence to complete tasks performed by humans or require human intelligence at a rapid pace, Low-code development simplifies coding and application building to provide easy drag and drop functionality, making application development more accessible and faster than ever before. 

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